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Analyze the ways financial information is used in health care organizations. I need help writing (about 300 words) over the ways financial information is used
Analyze the ways financial information is used in health care organizations.
I need help writing (about 300 words) over the ways financial information is used in health care organization. I have added some information below that needs to be added into this. Thank you. Please no copy and paste answers.
Objective 3.1: Describe ways financial information is used in health care organizations.
- Financial information is vital to help health care facilities and providers make decisions with regard to forecasting, budgeting, and planning for capital spending, having sufficient cash flow, and making short- and long-term strategic decisions
- Financial data can be used for staffing plans and new products and services launches
- The numbers in financial statements are not very useful unless we study their trends over time and their relationships with other numbers in the same set of financial statements
- Perform types of analyses on the financial statement numbers
- Two commonly used analyses are horizontal and vertical analysis
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